Israel: Consumer confidence reaches a joint all-time high in February, while business confidence dips to a three-month low
March 11, 2018
In February, the Central Bureau of Statistics’ (CBS) consumer confidence indicator rose from minus 10.0 points in January to minus 9.1 points—a joint all-time high last seen in October. Despite the improvement, the index remained firmly entrenched in negative territory, where it has been since the survey began in March 2011.
February’s increase was due largely to a marked improvement in consumers’ outlook on unemployment and more optimistic expectations on household savings. On the other hand, households’ outlook on broader economic development deteriorated notably from January, when confidence hit the highest reading since the launch of the survey. Meanwhile, households’ view on their economic prospects remained upbeat, despite easing slightly from a month earlier.
In contrast, business confidence deteriorated in February, with the indicator declining to a three-month low of 20.5 points from 21.1 points in January.
Author: Javier Colato, Economist